Random House Acquires Figment

Random House Children’s Books has acquired Figment, an social network for teen readers and writers with more 300,000 members.

The site was founded by former CEO Jacob Lewis and Dana Goodyear. Lewis now serves as the publishing director of Crown/Broadway/Hogarth at Random House. Here’s more from the release:

The Figment community has become an online hub for teens passionate about creating, discovering, and sharing stories, with the majority of users between the ages of 13 and 18 years old. Among the site’s many features are book recommendations and spotlights from across publishers and over 20,000 different discussion groups and forums. The users of Figment have produced nearly three-quarters of a million stories, a library that is added to every day, and have shown incredible enthusiasm for connection and interaction with a range of books and authors.